Black Friday 2024: Top 5 Reasons Why Americans Can't Stop Shopping
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| The American enthusiasm for bargain hunting, especially during high-profile sales like Black Friday |
1. Cultural Roots in Consumerism and Individualism
The U.S. is known for its strong consumer culture, which began in the early 20th century as marketing and advertising grew. This culture emphasizes personal choice and self-expression through products. According to a study by the University of Southern California, nearly 70% of Americans report feeling that finding a good deal gives them a sense of accomplishment. Major sales events like Black Friday allow consumers to showcase their ability to secure valuable items at discounted prices, which aligns with the individualistic culture of "winning" or achieving in the U.S.
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| Customers at the Black Friday sales at a Best Buy store in California | AFP |
2. Economic Necessity and Financial Accessibility
Many Americans view sales events as critical to managing their personal finances. With inflation rates impacting purchasing power, as seen with an 8.5% increase in consumer prices over recent years, bargain shopping helps Americans stretch their budgets. In 2022, shoppers spent $9.12 billion online during Black Friday, showing how essential these sales are for those looking to afford holiday gifts and big-ticket items without overspending
Additionally, approximately 60% of U.S. households reported they planned to buy primarily discounted items during the holiday season, underlining the importance of deals to American consumers' financial well-being3. The Thrill of the Hunt and Psychological Appeal
Sales events create a sense of urgency and excitement by offering limited-time deals, which tap into psychological factors like the “scarcity effect” and “FOMO” (fear of missing out). Studies in behavioral economics indicate that consumers are driven by an adrenaline boost when they find discounted items, activating the brain’s reward system. This phenomenon makes sales shopping not only practical but also highly pleasurable. A survey from the National Retail Federation showed that 50% of shoppers experience a heightened sense of satisfaction and pleasure when scoring a deal, illustrating the psychological reward of the hunt.
4. Tradition and Social Experience
In the U.S., sales events are more than shopping—they’re a cultural ritual that involves families and friends. Black Friday, which traces back to the post-Thanksgiving shopping boom of the 1950s, has become a national tradition. Over 137 million Americans participate in Black Friday shopping every year, making it one of the most shared experiences in the country. According to a survey by the National Retail Federation, more than 60% of participants see it as a fun, social activity, reinforcing the idea of sales as a bonding tradition.
5. Influence of Marketing and Technology (New Reason)
Marketing tactics, combined with technological advancements, also play a significant role. Retailers use sophisticated digital marketing strategies, from personalized ads to flash sales, to attract consumers. As online shopping has grown, retailers can now reach consumers with targeted discounts and promotions that feel customized, enhancing the appeal. In 2023, it was estimated that 76% of Americans used mobile devices to shop during Black Friday, indicating the impact of technology in making bargain hunting easier and more immediate.
Additionally, the rise of online platforms like Amazon and discount apps like Honey has fueled this trend by making it easier to compare prices and find deals instantly.
In summary, the American passion for bargain hunting is fueled by cultural traditions, economic factors, psychological motivations, social experiences, and the influence of modern marketing technology. This multifaceted enthusiasm for deals reflects a unique combination of practical need, entertainment, and cultural ritual.
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